XTX Topco Ltd Grows Stake in Scilex Holding (NASDAQ:SCLX)

XTX Topco Ltd raised its stake in shares of Scilex Holding (NASDAQ:SCLX) by 321.4% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 105,431 shares of the company’s stock after purchasing an additional 80,409 shares during the period. XTX Topco Ltd’s holdings in Scilex were worth $203,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently modified their holdings of the company. Focus Financial Network Inc. ADV bought a new stake in Scilex in the fourth quarter worth $58,000. Collective Family Office LLC boosted its stake in shares of Scilex by 68.4% during the 1st quarter. Collective Family Office LLC now owns 21,950 shares of the company’s stock worth $35,000 after purchasing an additional 8,918 shares during the period. Cannon Global Investment Management LLC bought a new position in Scilex during the 1st quarter valued at about $40,000. Vanguard Group Inc. lifted its stake in Scilex by 1.4% in the first quarter. Vanguard Group Inc. now owns 3,988,265 shares of the company’s stock worth $6,341,000 after purchasing an additional 55,757 shares during the last quarter. Finally, Donald L. Hagan LLC boosted its position in shares of Scilex by 59.5% during the second quarter. Donald L. Hagan LLC now owns 113,292 shares of the company’s stock valued at $219,000 after buying an additional 42,245 shares during the period. Hedge funds and other institutional investors own 69.67% of the company’s stock.

Scilex Stock Up 4.5 %

Shares of NASDAQ:SCLX opened at $0.94 on Monday. The company has a market capitalization of $170.43 million, a price-to-earnings ratio of -0.72 and a beta of 1.17. The firm has a 50 day moving average of $1.23 and a 200 day moving average of $1.31. Scilex Holding has a 52 week low of $0.73 and a 52 week high of $2.63.

Scilex (NASDAQ:SCLX) last posted its earnings results on Tuesday, August 13th. The company reported ($0.18) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.20) by $0.02. The company had revenue of $16.37 million during the quarter, compared to analysts’ expectations of $13.17 million. On average, sell-side analysts expect that Scilex Holding will post -0.79 EPS for the current year.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on SCLX shares. Rodman & Renshaw began coverage on Scilex in a research note on Thursday, June 13th. They issued a “buy” rating and a $13.00 target price on the stock. HC Wainwright reaffirmed a “buy” rating and set a $7.00 price target on shares of Scilex in a research note on Monday, June 17th.

Scilex Company Profile

Scilex Holding Company focuses on acquiring, developing, and commercializing non-opioid pain management products for the treatment of acute and chronic pain. Its commercial products include ZTlido (lidocaine topical system) 1.8% (ZTlido), a prescription lidocaine topical product for the relief of neuropathic pain associated with postherpetic neuralgia (PHN), which is a form of post-shingles nerve pain; ELYXYB, a ready-to-use oral solution for the acute treatment of migraine with or without aura in adults; and GLOPERBA, a liquid oral version of the anti-gout medicine colchicine indicated for the prophylaxis of painful gout flares in adults.